I have a question regarding present values of uneven payments. We signed a lease that orignally was approx 30 months long and had three payments even payments. The next month, it was amended and required three upfront payments monthly and then an annual payment on January 15th of each year through 2014.

I am using the XNPV function, but you will see on the attached that I am not zeroing out on my amortization table which makes me think I am doing this all wrong.

Can someone take a look at the attached spreadsheet (had to zip it because its the only way they accept excel) and let me know if they agree with my calc. The original lease is on the first tab and the amended lease is on the second.

Thanks!